ECONOMY

Global investors see default on Greek cards

International investors view a sovereign default by a euro-area nation as more likely than not with more than four-fifths betting Greece will eventually fail to pay off its debt, according to a survey prepared by Bloomberg.

Eighty-five percent of those surveyed this week said Greece probably will default, with majorities predicting the same fate for Portugal and Ireland, which followed Greece in seeking European Union-led bailouts, a new Bloomberg Global Poll shows. The outlook for all three countries deteriorated since January.

?All these countries will go bust at some stage,? said Wilhelm Schroeder, a poll participant who helps manage the equivalent of about $172 million for Schroeder Equities GmbH in Munich. ?I just can?t see a scenario in which these countries get out of their debt problems.?

The number of survey respondents anticipating a default in Greece rose 11 percentage points since January and 12 points from last June, according to the poll of 1,263 investors, analysts and traders who are Bloomberg subscribers.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.